Nigeria Recorded Over $2.48bn Export To South Africa In 2020
Nigeria has exported commodities not less than $2.48 billion (R6billion) within the last 24 months, South Africa Consular General Hon Malik Abdul has stated.
Abdul, who disclosed this in a document made available to The Nation, stated South Africa is among the top 10 percent investors in Nigeria globally, adding that Nigerian accounts for 64 percent of South Africa’s trade with West Africa.
He noted that Nigeria is one of the South Africa’s top three sources of crude oil, pointing out Nigeria in 2020 was South Africa’s top import market in Africa, and 6th globally after China, Germany, USA, India and Saudi Arabia.
“Over the years, South Africa imported R35billion (US$2.48 billion) worth of goods, predominantly, crude oil from Nigeria. The economic relationship can be described as win-win situation. For both economies, the balance of relationships is actually in favor of South Africa.
“It is therefore imperative that that steps are taken to consolidate these ties and to NIP in the bud any irritants to this partnership. It is our hope that the coming into force, the African Continental Free Trade Area (AfCFTA) providing tariff-free access to market of over 1.3 billion people will further provide impetus to depend the economic relations between the two countries,” he stated.
According to the Consular General, the mission will provide the relevant guidelines to businessmen and investors from both countries, stressing that it will also engage in trade exhibitions and investment forums in due course.
Abdul said, “Since my assumption of office in November 2020, I have undertaken familiarization visit to Limpopo, Western Cape, where I met the Provincial leaders, including the Premier, Mayor and Commissioner of Police. I also met with the Premier of Gauteng through the Web.”
He expressed that these meetings extended the the hands of fellowship and cooperation in enhancing the bilateral relationship between the two countries and issues partaining to the welfare of the Nigerian economy.
Regarding the perennial incidents of xenophobic attacks on Nigerians in Durban and environs in February 2021, he said, “I had a Consulate meeting with the KwaZulu-Natal Provincial Commissioner of Police on the issue. A follow up to that was the setting up of a joint consultative committee, comprising of the Mission, the Police and the Nigerian Community to gather timely information in order to forewarned and prevent further attacks.”